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Data shared by popular blockchain wallet tracker Shibburn revealed that an anonymous whale burned a gigantic amount of Shiba Inu meme parts in a single transaction.
Meanwhile, the price of the second most popular meme cryptocurrency, SHIB, struggled to recover and surpass the $0.00003 level after falling by $0.00003316 on Sunday.
More than 2 billion SHIBs disappear in the flames
The aforementioned data source revealed that over the past 24 hours, the Shiba Inu community has been actively burning SHIB coins as they managed to dump a massive amount of crypto – 2,022,950,833 SHIB.
This impressive result was achieved through seven transactions. Almost all of the 2.022 billion SHIB was transferred to an unusable address in a single transfer from an anonymous cryptocurrency whale, which was carrying 2,020,624,700 SHIB meme coins.
However, despite the very impressive amount in crypto, this was equivalent to just $59,608 in fiat currency.
The second largest burning transfer carried less than a million meme coins – 900,000 SHIB.
According to Shibburn, the overall burn of 2.022 billion Shiba Inu pushed the burn rate to 3,162.56 percent.
Related
SHIB burn conflict
In the comments thread of the tweet announcing the burning of 2.020 billion SHIB, users shared that this giant quantity of meme coins was burned by the @Shibtoshi_SG founder of the crypto SquidGrow. Last week the same person suffered a slight burn more than a billion SHIB in one go Also. In total, last month, the cumulative efforts of the SHIB community and the coin development team led to the transfer of 3,162,301,655 SHIBs.
As disputes on Platform X regarding SHIB burns continue, some SHIB enthusiasts continue to criticize Team SHIB for slowly burning Shiba Inu parts. Lead Developer Shytoshi Kusama and his right-hand man, Kaal Dhairya, insist that the higher the utility of Shibarium, the more SHIB will be burned, and this is not up to their will. As if to oppose Kusama and challenge his leadership, @Shibtoshi_SG burned the first billion SHIB last week and has now sent over two billion SHIB in the same direction – to dead-end wallets.
Kaal Dhairya also recently tweeted that he has some interesting ideas on how to improve the SHIB burning mechanism, and they will be implemented after the next maintenance.